Private Asset Management Inc. Has $3.59 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Private Asset Management Inc. cut its position in Autodesk, Inc. (NASDAQ:ADSK) by 22.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,521 shares of the software company’s stock after selling 5,038 shares during the period. Private Asset Management Inc.’s holdings in Autodesk were worth $3,585,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Autodesk during the 4th quarter worth about $426,374,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Autodesk by 480.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,785,264 shares of the software company’s stock valued at $371,621,000 after purchasing an additional 1,477,770 shares in the last quarter. Bank of America Corp DE raised its position in Autodesk by 18.2% in the 1st quarter. Bank of America Corp DE now owns 3,967,076 shares of the software company’s stock worth $825,786,000 after purchasing an additional 610,230 shares during the last quarter. FIL Ltd lifted its holdings in Autodesk by 47.7% during the 1st quarter. FIL Ltd now owns 1,677,282 shares of the software company’s stock worth $349,143,000 after buying an additional 541,567 shares in the last quarter. Finally, DSM Capital Partners LLC increased its stake in shares of Autodesk by 61.3% in the 1st quarter. DSM Capital Partners LLC now owns 1,133,627 shares of the software company’s stock valued at $235,976,000 after buying an additional 430,933 shares during the period. 87.92% of the stock is owned by institutional investors.

Autodesk Stock Down 0.0 %

Shares of NASDAQ:ADSK traded down $0.01 during mid-day trading on Thursday, reaching $212.25. 84,220 shares of the stock were exchanged, compared to its average volume of 1,419,537. Autodesk, Inc. has a one year low of $179.61 and a one year high of $233.69. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 1.89. The stock’s 50 day simple moving average is $210.92 and its 200-day simple moving average is $204.08. The company has a market cap of $45.37 billion, a P/E ratio of 52.54, a P/E/G ratio of 2.99 and a beta of 1.49.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Wednesday, August 23rd. The software company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.73 by $0.18. Autodesk had a net margin of 16.77% and a return on equity of 90.61%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Autodesk, Inc. will post 4.67 EPS for the current year.

Insider Activity at Autodesk

In related news, CEO Andrew Anagnost sold 22,318 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $221.90, for a total transaction of $4,952,364.20. Following the completion of the transaction, the chief executive officer now directly owns 99,327 shares of the company’s stock, valued at $22,040,661.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Rebecca Pearce sold 115 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $220.00, for a total value of $25,300.00. Following the sale, the executive vice president now directly owns 22,857 shares of the company’s stock, valued at approximately $5,028,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 22,318 shares of Autodesk stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $221.90, for a total value of $4,952,364.20. Following the transaction, the chief executive officer now owns 99,327 shares of the company’s stock, valued at approximately $22,040,661.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,707 shares of company stock valued at $6,139,461. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays raised their price target on Autodesk from $225.00 to $233.00 and gave the company an “overweight” rating in a report on Thursday, August 24th. BMO Capital Markets boosted their price target on shares of Autodesk from $224.00 to $232.00 and gave the stock a “market perform” rating in a research note on Thursday, August 24th. TheStreet cut shares of Autodesk from a “b-” rating to a “c+” rating in a research note on Tuesday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $240.00 target price on shares of Autodesk in a research report on Thursday, August 24th. Finally, StockNews.com lowered Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.28.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.